co-presented by
ASSOCIATE SPONSORS
co-presented by
ASSOCIATE SPONSORS
After paying few initial investors, Speak Asia wrapped up its operation in India around mid-2011. The company duped over 24 lakh investors. The amount of scam went up to Rs 2,276 crore.
CNBC-TV18‘s Siddharth Zarabi reports that the multi-level marketing companies will be banned by the government. The proposal has been mooted by the department of financial services and is likely to be fast tracked considering the seriousness of the chit fund scam
The collective investment scheme regulations of 1999 are too old to handle the new and innovative schemes that are being introduced. With more scams in this area coming to light SEBI's call for a principal regulator to oversee all collective investment schemes including multi-level marketing schemes has gained strength.
The multi disciplinary organization for investigating serious financial frauds, Serious Fraud Investigation Office (SFIO) is probing 10-12 multi-layered marketing companies.
The serious fraud investigation office (SFIO) probing the Singapore-based Speak Asia has found that that the web-based company remitted Rs 700 crore out of India
The Supreme Court has directed the Singapore-based firm Speak Asia, accused of duping investors to the tune of Rs 1,300 crore, to deposit before it the amount payable to investors and concerned authorities.
City police today arrested one more key person in connection with Speak Asia's multi-level marketing scam, taking the total number of arrests in the case to six.
In the backdrop of reports of the alleged scam at the Singapore-based online survey company Speak Asia, the BJP today demanded the accused be booked for economic offences.
Mumbai police has arrested Tarak Bajpai, the Chief Operating Officer (CEO) of Speak Asia, an online survey company late last night, in connection with a forgery case from the Vijay Nagar police station area, City Superintendent of Police Amarinder Singh said.
Speak Asia COO Tarak Bajpai was detained by the Economic Offenses Wing of the Mumbai police for questioning on Friday. The online survey company hit controversy in a multi-crore scam.
